Qualified Opinion

An auditor's statement that he/she is unable to render a full opinion about a company's finances, or a portion thereof, because the company's accounting does not meet the Generally Accepted Accounting Principles or because the information was for some reason incomplete. In other words, a qualified opinion states that the company's accounting is so sloppy that the auditor cannot render an opinion. This is placed on the front page of an audit. See also: Except for opinion.

subject to opinion

An audit opinion by a certified public accountant that a firm's financial statements are fairly presented subject to the outcome of an uncertain future event. A major lawsuit, the outcome of which could significantly affect the firm, may be unresolved at the time of the audit; such a situation is an example of a factor influencing the opinion.

He argued that identity changed from being essential, dependent on established hereditary landed titles, to ephemeral, derived from speculative sources of income, subject to opinion and market whims in the form of credit (439-41).

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